Elastic (NYSE:ESTC) Upgraded at William Blair

William Blair upgraded shares of Elastic (NYSE:ESTC) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat reports.

Several other research analysts have also recently weighed in on the company. Scotiabank lowered their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Truist Financial lowered their price objective on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. TD Cowen cut their target price on Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Piper Sandler lowered their price target on shares of Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

Elastic Stock Down 0.3 %

Shares of ESTC opened at $81.97 on Monday. The stock has a 50 day moving average price of $86.21 and a 200 day moving average price of $99.92. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 154.66 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Equities research analysts forecast that Elastic will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, the director now directly owns 22,627 shares in the company, valued at $1,680,054.75. The trade was a 700.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This represents a 700.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,406 shares of company stock valued at $2,627,772. Corporate insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently made changes to their positions in ESTC. Vontobel Holding Ltd. lifted its stake in Elastic by 241.3% in the third quarter. Vontobel Holding Ltd. now owns 14,900 shares of the company’s stock worth $1,144,000 after acquiring an additional 10,534 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Elastic by 51.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,666 shares of the company’s stock worth $2,124,000 after purchasing an additional 9,444 shares during the last quarter. CWM LLC grew its stake in shares of Elastic by 2.7% during the third quarter. CWM LLC now owns 26,635 shares of the company’s stock worth $2,045,000 after purchasing an additional 706 shares in the last quarter. Blue Zone Wealth Advisors LLC increased its holdings in Elastic by 60.0% in the third quarter. Blue Zone Wealth Advisors LLC now owns 45,661 shares of the company’s stock valued at $3,505,000 after buying an additional 17,119 shares during the last quarter. Finally, Neumann Advisory Hong Kong Ltd acquired a new stake in Elastic in the third quarter valued at $12,078,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.